Project Cost Risk
1305
Estimate total project cost with uncertain labor, materials, and contingency
NOTEModel Overview
📊 PROJECT COST MODEL
Estimates total budget:
• Labor with schedule risk
• Materials with price volatility
• Contingency percentage
VARIABLELabor Cost
triangular
Total labor expense estimate
labor
VARIABLEMaterials Cost
lognormal
Materials with supply chain risk
materials
VARIABLEContingency %
uniform
Buffer for unknowns (5-15%)
contingency_pct
FORMULABase Cost
labor + materials
Before contingency
labor
materials
base_cost
FORMULATotal Cost
base_cost * (1 + contingency_pct)
Final budget estimate
base_cost
contingency_pct
total_cost
OUTPUTProject Budget
Total Project Cost ($)
About the creator
The team behind Carlo. We believe everyone deserves tools to reason about risk and uncertainty.
What is Carlo?
Carlo is a visual tool for Monte Carlo simulation. Model uncertainty by dragging probability distributions, connecting them visually, and running thousands of scenarios instantly.